eBay Inc. reported revenue of $2.5 billion, up 5 percent on an as-reported basis and up 5 percent on an FX-neutral basis, for its third quarter ended Sept. 30, 2023. “We delivered another quarter of solid results and have accelerated the pace of innovation across eBay,” said Jamie Iannone, Chief Executive Officer at eBay. “The strategic investments in our marketplace and the team’s strong execution are driving increased customer satisfaction, especially in focus categories. In the face of macroeconomic uncertainty, we continue to make meaningful progress against our ambitious vision to reinvent the future of e-commerce for enthusiasts.“
The marketplace’s gross merchandise volume (GMV) was $18.0 billion, up 2 percent on an as-reported basis and roughly flat on an FX-neutral basis. GAAP net income from continuing operations was $1.3 billion, while non-GAAP net income from continuing operations was $545 million. The GAAP and Non-GAAP operating margin was 18.2 percent and 26.4 percent, respectively.
“In Q3, we met or exceeded expectations across all of our key financial metrics,” said Steve Priest, Chief Financial Officer at eBay. “Our strong balance sheet and operational rigor enable us to adapt to the evolving changes in this dynamic macro environment. We will continue to be prudent with cost efficiencies, saving to invest for the future while remaining good stewards of capital for our shareholders. I’m proud of our teams for laying the groundwork for long-term, sustainable growth.”
